Stories for September 2015

Wednesday, September 30

Target Plans Oct. 7 Debut for New San Diego Stores

Target Corp. plans an Oct. 7 opening for its two previously announced new San Diego stores.

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Suja Juice Is Moving to New Oceanside Location

Popular beverage company Suja Juice is moving from Miramar to Oceanside, and more than doubling its corporate space along the way, according to commercial real estate group Cushman &Wakefield.

Groundbreaking Takes Place for 635-Unit Community in Carlsbad

Presidio Residential Capital and Cornerstone Communities broke ground Sept. 28 on a 635-unit community in northeast Carlsbad, the San Diego-based real estate investment firm and developer said.

Lpath Inc. Appoints Atkinson Interim CEO

Lpath Inc. announced that Gary Atkinson has been appointed interim chief executive officer of Lpath, effective immediately.

Tuesday, September 29

Scripps Ranch Retail Property Sells for $20.45 Million

An entity recorded as Villa Ruchello LLC of Santa Barbara has acquired Scripps Ranch Marketplace Phase II retail center in San Diego for $20.45 million, according to brokerage firm CBRE Group Inc. and public data.

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Tim Hodge Named Executive VP at LPL's San Diego Office

LPL Financial LLC, a Boston-based independent broker-dealer, named a new executive vice president Tuesday to work out of the company’s San Diego office.

Westcore Buys Southern California Industrial Portfolio for $69.4 Million

San Diego-based Westcore Properties has acquired a Southern California industrial portfolio from a real estate investment arm of MetLife for $69.4 million.

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Klinedinst PC Expands Law Practice into Pacific Northwest

San Diego-based law firm Klinedinst PC said Monday it has expanded into Seattle and the Pacific Northwest, adding to its existing footprint in Southern California and Sacramento.

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San Diego Home Price Gains Beat National Average, Index Shows

San Diego’s home prices rose 5.4 percent in the year ending in July 2015, according to an index measuring housing prices, edging out the national growth rate and recording some of the strongest long-term growth in the country.

DARPA Extends Contract With Aethlon Medical Inc.

Aethlon Medical Inc., a company that makes a blood-filtering device to treat infectious disease and cancer, has won an extension of its contract with the Defense Advanced Research Projects Agency (DARPA).

Monday, September 28

Qualcomm to Invest $150 Million in Indian Startups

Qualcomm Inc. announced it will invest up to $150 million in Indian startups during a meeting last week with Prime Minister Narendra Modi at the Digital Economy event in San Jose.

Encore Capital Group Buys Majority Stake in Baycorp

Encore Capital Group, the country’s largest buyer of delinquent debt, said it has purchased a majority interest in Baycorp, one of the top debt collections firms in Australia.

Anderson Forecast Predicts More Jobs, Costly Housing

Californians can expect continued job growth and lower unemployment over the next three years, but housing costs are expected to continue to rise, according to the UCLA Anderson Forecast released Monday.

Former La Jolla Bank Official Pleads Guilty to Conspiracy

A former official at defunct La Jolla Bank pleaded guilty to a conspiracy charge on Friday, admitting top executives at the bank accepted bribes from unqualified borrowers in exchange for guaranteeing hundreds of millions of dollars’ worth of loans. Federal prosecutors said the scheme led to the bank’s 2010 collapse.

Discount Retailer Opens New Store in National City

Pleasanton-based retailer dd’s Discounts recently opened a new store in National City, marking its seventh location in San Diego County.

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DOE Launches $20M Pilot Program to Promote Clean Energy

Small businesses in the clean energy sector can now apply for assistance from the Department of Energy’s national laboratories through the department’s new Small Business Vouchers Pilot.

William Roper Jr. Named CFO at Human Longevity Inc.

Human Longevity Inc. (HLI), a genomics company in San Diego, announced Monday that William A. Roper Jr. has been appointed chief financial officer.

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Grocer Haggen Laying Off 3,430 California Workers at Closing Stores

Grocer Haggen Food & Pharmacy has filed layoff notices with state and local officials, indicating the struggling retailer plans to lay off 3,430 workers as it closes 67 California stores by Nov. 24, including 19 in San Diego County.

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GenomeDx Biosciences Receives Financing From CRG

GenomeDx Biosciences announced Monday that it has secured expansion financing from CRG, a health care investment firm, in the form of a senior secured term loan.

Sunday, September 27

Opponents of Carlsbad Lagoon Project Submit More than 9,000 Signatures

Carlsbad opponents of a controversial lagoon-adjacent development have delivered referendum petitions with 9,074 signatures to the city clerk, in a bid to have City Council’s recent approval of the project overturned or placed before voters.

Coastal Panel Staff Recommends Approval of Planned Killer Whale Habitat Project at SeaWorld

The staff of the California Coastal Commission has recommended conditional approval of SeaWorld San Diego’s proposed $100 million expansion of its killer whale habitat, called Blue World. SeaWorld officials are scheduled to present the project to the commission at its Oct. 8 meeting.

SDG&E Seeks Approval to Recover Some 2007 Wildfire Costs Through Rates

San Diego Gas & Electric asked the California Public Utilities Commission for approval to recover in rates the remaining costs — about $379 million — to settle the 2,500 lawsuits related to the 2007 wildfires.

The Business Calendar for the Week of September 28, 2015

Some of the business events planned for the county for the week of September 28, 2015, and beyond.

General Atomics Gets Contract for Work on Catapult Launch System for Carrier

The U.S. Navy awarded General Atomics up to $29.6 million for work on the electromagnetic aircraft launch system on the Navy’s next aircraft carrier, to be named USS Gerald R. Ford

Junior Achievement to Hold Grand Opening of New Education Center

Junior Achievement of San Diego County announced the grand opening for the nonprofit’s newest education center, Mission Fed JA Finance Park.

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Northrop Grumman Corp. Receives Navy Contract Worth Nearly $9 Million

The U.S. Navy awarded Northrop Grumman Corp. a contract modification worth slightly less than $9 million to provide sustainment engineering services support to the Broad Area Maritime Surveillance Demonstrator program.

Friday, September 25

Junior Achievement Announces Grand Opening of Its Education Center

Junior Achievement of San Diego County announced the grand opening for the nonprofit’s newest education center, Mission Fed JA Finance Park.

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Business Calendar for Week of September 28, 2015

Some of the business events scheduled in the county for the week of September 28, 2015, and beyond.

Carlsbad Lagoon Project Opponents Submit More than 9,000 Signatures

Carlsbad opponents of a controversial lagoon-adjacent development have delivered referendum petitions with 9,074 signatures to the city clerk, in a bid to have City Council’s recent approval of the project overturned or placed before voters.

Coastal Panel Staff Recommends Approval of SeaWorld Whale Habitat Project

The staff of the California Coastal Commission has recommended conditional approval of SeaWorld San Diego’s proposed $100 million expansion of its killer whale habitat, called Blue World. SeaWorld officials are scheduled to present the project to the commission at its Oct. 8 meeting.

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SD Hacks One Avenue to Keep Talent at Home

In July, Fast Company featured a story, “The Next Top 10 Cities for Tech Jobs.” The research, based on job market activity data from across America as provided by ZipRecruiter, released a list of the top 10 up-and-coming cities for tech jobs in 2015. San Diego was missing from that list. This is just one ranking, but in a region such as San Diego — that is home to incredible technology companies — we must do more to showcase the opportunities that exist.

Medical Innovators to Be in Spotlight in S.D.

There’s a revolution taking place in our own backyard. Innovative medical devices and diagnostic tests are changing the way medicine is being practiced, providing new and transformative solutions for age-old health problems. These successes are having a profound impact on patient health and San Diego’s economy.

These La Jolla Gems Sparkle on Their Perches Near the Pacific

There are scores of charming neighborhoods in San Diego County, but the Barber Tract in La Jolla is one of the most beguiling. Reminiscent of Carmel in Northern California, the streets of the community are lined with vine-covered cottages, grand estates and a treasure trove of architecturally significant, historic homes.

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Volunteers Pitch In to Help Get Care Packages to Our Military

People gathered recently at the USO San Diego to put together 300 “We Care” packages for U.S. service members. Military families were joined by Toyota and the Padres Volunteer Team to build packages for service members.

Thursday, September 24

Struggling Grocer Haggen Plans to Exit Pacific Southwest Market

Struggling grocery chain Haggen Food & Pharmacy plans to exit the Pacific Southwest market and realign its operations around 37 core stores and one stand-alone pharmacy in its original home base of the Pacific Northwest.

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UCSD Reports $177.5 Million in Fundraising

The University of California, San Diego said it hit record fundraising totals this year, garnering $177.5 million as well as a $100 million donation from the Rady family to fund an endowment for the university’s business school.

Millennium Health Reportedly Reaches Settlement with Government

Millennium Health, the nation’s largest drug-testing company, is finalizing plans to pay the U.S. Department of Justice $275 million to settle a probe over its billing practices and hand over control of the company to lenders in bankruptcy proceedings, Bloomberg reported Sept. 23.

MediaTek Chip Replaces Qualcomm's in Amazon Product

Taiwan-based MediaTek said on Sept. 17 that its processor powers the latest Amazon Fire TV streaming box, as well as the Fire HD 8 and Fire HD 10 tablets, which go on the market between Sept. 30 and Oct. 5.

Downtown Land Parcels Sold for $4.4 Million

A partnership recorded as 3500 5th LP has acquired two contiguous land parcels in downtown San Diego’s East Village for $4.4 million, according to brokerage company Colliers International.

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Scripps Is First Local Provider to Implant New Defibrillator That Is Compatible With MRIs

Scripps Health in San Diego County says it’s the first local provider to offer an implantable cardioverter defibrillator (ICD) device approved for use with MRI scans.

Grant Hill Multifamily Portfolio Sold for $2.1 Million

H Street Plaza LLC of San Diego has purchased a 16-unit multifamily property portfolio in San Diego’s Grant Hill neighborhood for $2.1 million, according to brokerage firm ACRE Investment Real Estate Services.

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RCP’s Old School Approach Still Works Well for Company

RETAIL: Manufacturing, Brick and Mortar Retail Are Its Past, Present and Future

The concrete blocks at RCP Block & Brick, destined to be part of a homeowner’s retaining wall, roll down the assembly line resembling large cookies, some crumbling to the touch before a curing process that will strengthen the material.

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The Art of Parts

PRODUCTION: Company Molds Its Own Success By Taking On Manufacturing, Design Challenges of Others

Diagenode, a Belgian life sciences company that makes DNA testing tools, had developed a method to more efficiently split DNA strands and was on the hunt for a way to mass produce the required parts.

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Production Values

PRODUCTION: San Diego’s Manufacturing Scene Is More Suited for the Advanced Jobs

Bob Grande started what would become Quality Controlled Manufacturing Inc. out of his garage in 1978, using a conventional lathe and mill to machine parts for larger manufacturers.

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Technology Aims to Help Drones ‘Learn’ to Share Airspace

NASA continues to experiment with collision-avoidance technology using Ikhana, the agency’s remotely piloted unmanned aircraft from General Atomics Aeronautical Systems Inc.

SDSU Creates Institute to Develop Wearable Health Solutions

San Diego State University is delving into the booming market for wearable sensors, creating an institute that will develop wireless devices that diagnose and monitor a person’s health.

Conference Brings Attendees to ‘Epicenter of Precision Medicine’

MEDICINE: S.D.’s Growing Medtech Sector Gets Recognition

A major medical technology conference will bring thousands of executives to San Diego in October, a nod to the region’s lofty standing in the health tech industry.

Co. Goes for the Silver Rather Than Multifamily Gold Rush

PROPERTY: Wilson Cos. Follows Demographics To Senior Housing

Since its founding in 1989, San Diego’s Douglas Wilson Cos. hasn’t hesitated to reconfigure its commercial property service offerings to reflect changes in the sometimes volatile real estate market.

Despite Conservation, Water Related Costs Are Mounting

ECONOMY: Drought Affects Several Aspects of State’s Business Climate

San Diego County residents and businesses are paying the price for state restrictions on the use of stored water reserves, said experts at a recent University of San Diego forum, even as the local region has topped most others in California when it comes to conserving water during the past two decades.

Sake Makers Hope Their Craft Will Catch On

Keldon Warwick Premuda and Josh Hembree have opened a craft brewery in Mira Mesa, but they are not making beer.

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Café Serves a Purpose As Well as Good Food

DINING: Juicing’s ‘Missing Ingredients’ Complete Menu

The trendy juice bars that blanket much of Southern California are as unsustainable as juice fasting itself, says Lisa Odenweller, the proud owner of the rapidly-growing organic “superfood” café Beaming.

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Guarding Our Assets

DEFENSE: San Diego Must Actively Engage to Protect Its Role in Defense

San Diego County offers crucial support to, and benefits greatly from, the Defense Department’s sprawling presence in the region — but the community should not get too comfortable with the status quo.

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Local Cos. Part of Informal Regional Effort to Hire Qualcomm Layoffs

TECH: Varied Businesses Look to Keep Talent in S.D.

Making good on a promise to investors that it would cut staff, Qualcomm Inc. gave 60-day layoff notices to more than 1,300 full-time employees in San Diego and to an unspecified number in other U.S. offices earlier this month. The business said in July that it planned to cut 15 percent of its worldwide staff — or about 4,500 people — as profits in the chip space decline and as it searches for higher-growth businesses. Qualcomm said it wanted to reduce costs by $1.1 billion annually by September 2016. In response, a handful of local technology companies and the San Diego Regional Economic Development Corp. have come together to keep a critical mass of tech talent in the region. Cubic Corp., iboss Inc., Illumina and a dozen other companies agreed to consider laid-off employees for open positions and handle the

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Wednesday, September 23

GA-ASI Awarded $47.5 Million Army Contract

The U.S. Army awarded General Atomics Aeronautical Systems Inc. a $47.5 million contract modification that pays for engineering changes to the Army’s improved Gray Eagle unmanned aircraft.

BioMed Shares Rise Sharply After Report of Possible Sale

San Diego’s BioMed Realty Trust Inc. was among the biggest movers on the New York Stock Exchange on Sept. 23, after a media report that the company is exploring a sale.

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New Life Science Firm Raises $15 Million in Equity Financing

A local pharmaceutical company founded by life science veteran Cam Gallagher has raised $15 million in equity financing, according to a recent filing with the Securities and Exchange Commission.

Report: Local Medical Office Space Tightening

San Diego County’s medical office supply continues to tighten, as care providers seek opportunities to upgrade or expand their spaces, according to a new report by commercial real estate brokerage company JLL.

Bridge Bank Launches Life Sciences Group

Bridge Bank announced Wednesday the launch of a new banking group to be based in San Diego – Life Sciences Group (LSG) – which will offer customized financial solutions to companies operating in the life sciences sector.

Gafcon Launches Transportation Services Division

San Diego-based construction management firm Gafcon Inc. has launched a new transportation division, to include federal, state and local transportation projects.

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Tuesday, September 22

Kratos to Repurchase $175 Million Worth of Bonds

Kratos Defense & Security Solutions Inc. announced on Sept. 22 that it accepted $175 million worth of bonds for repurchase.

Northrop Grumman Signs 21-Year Deal with Norway Company

The supply chain for advanced military electronics stretches from San Diego back to Norway.

Lakeside Apartments Sold for $6.35 Million

San Diego-based Haliburton Plaza Investments has acquired the 54-unit Magnolia Terrace Apartments in Lakeside for approximately $6.35 million, according to brokerage firm The Heritage Group.

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Ann Pickren Promoted to President at MIR3 Inc.

San Diego-based MIR3 Inc., which makes mass notification software for corporate clients, said Tuesday it was promoting its chief operating officer to become its president.

Local Hotels Make Key Executive Hires

New executive management appointments were recently announced at hotels in San Diego, Carlsbad and Coronado.

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Genomics Pioneer Stephen Kingsmore to Lead Rady Institute

Rady Children’s Hospital announced that genomics pioneer Stephen Kingsmore will be the first president and CEO of its Pediatric Genomics and Systems Medicine Institute.

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Monday, September 21

Jack in the Box Announces New Share Repurchase Program

Jack in the Box Inc. announced that its board of directors has authorized an additional $200 million stock buyback program commencing in fiscal year 2016 and expiring in November 2017.

Apartment Properties Change Hands in San Diego, Oceanside

San Diego-based Mar City LLC has acquired a 20-unit apartment property in Logan Heights for approximately $3.12 million, from ZBES 145764 LLC of San Diego. The buyer and seller of the property, called Imperial Villa Apartments at 3295-99 Imperial Ave., were represented by Bill Anderson of brokerage firm ACRE Investment Real Estate Services.

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National City Office Building Sells for $2 Million

A&S Group LLC of San Diego, led by Daniel Shkolnik and Brandon Blum, has acquired a National City office building for approximately $2 million, with plans for an extensive renovation, the company announced.

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Promosome Receives First Royalty Payment From GE

Promosome, a privately held synthetic biology company in San Diego, announced Monday that it has received the first royalty payment from its licensing agreement with GE Healthcare Life Sciences.

Defense Contractor to Hold Open House

General Atomics is opening the doors of one of its factories to the public on National Manufacturing Day, Oct. 2.

Local Industrial Properties Get New Owners

Two Fallbrook industrial properties were recently bought and sold by Southland Fabrication, in transactions totaling $2 million.

Fragmob Announces $3.2 Million Convertible Debt Funding Round

San Diego-based Fragmob said on Sept. 17 that it closed a $3.2 million convertible debt funding round.

Sequenom CEO Resigns

Sequenom announced that President and CEO William Welch has resigned.

Sunday, September 20

MG Properties Group Buys Reno Apartments for $68.1 Million

MG Properties Group has purchased two apartment properties in Reno, Nev., totaling 722 units for $68.1 million, the San Diego-based investment firm announced.

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Two Named to Top Leadership Positions at The Scripps Research Institute

The Scripps Research Institute in La Jolla has appointed two top scientists to address the institute’s cash and management problems, according to a recent news release.

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Bosa Development Debuting Downtown Exhibit and Lecture Series

Condominium developer Bosa Development plans a Sept. 26 debut for a new community exhibit and lecture series, examining urban planning and other issues impacting downtown San Diego.

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Sequenom Announces Deal With United Healthcare

Sequenom’s stock was up almost 17 percent on Sept. 18 following the previous day's news of the diagnostic company’s deal with United Healthcare.

The Business Calendar for the Week of September 21, 2015

Some of the business events planned in the county for the week of September 21, 2015, and beyond.

County's Unemployment Rate Drops to 5.1% in August

San Diego’s unemployment rate dropped slightly to 5.1 percent in August, from 5.4 percent in July, as the region gained 1,700 net industry jobs.

Cleantech San Diego Selects New Executive Committee Members

Cleantech San Diego, an advocacy group for clean technology, voted in a new Executive Committee to serve as officers of the organization’s board of directors.

Monument Marking History of Former Power Plant Is Unveiled

Port district and Chula Vista officials recently unveiled a new monument honoring the history of the former South Bay Power Plant, which was demolished in 2013.

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Friday, September 18

MG Properties Buys Reno Apartments for $68.1 Million

MG Properties Group has purchased two apartment properties in Reno, Nev., totaling 722 units for $68.1 million, the San Diego-based investment firm announced.

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New Chula Vista Monument Marks History of Former Power Plant

Port district and Chula Vista officials recently unveiled a new monument honoring the history of the former South Bay Power Plant, which was demolished in 2013.

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Bosa Debuting Downtown Exhibit and Lecture Series

Condominium developer Bosa Development plans a Sept. 26 debut for a new community exhibit and lecture series, examining urban planning and other issues impacting downtown San Diego.

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Sequenom's Stock Is Up Following Deal Announcement

Sequenom’s stock was up almost 17 percent on Sept. 18 following the previous day's news of the diagnostic company’s deal with United Healthcare.

Cleantech San Diego Votes in New Executive Committee

Cleantech San Diego, an advocacy group for clean technology, voted in a new Executive Committee to serve as officers of the organization’s board of directors.

Rallying The Forces

BIOTECH: Experienced Scientists, a Revolutionary Platform With an Assist from the Immune System Help to Take On Potentially Fatal Fungal Infections

Over the past decade, many drugmakers stopped trying to fight superbugs, citing high research costs, poor returns and too much red tape.

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Business Calendar for Week of September 21, 2015

Some of the business events planned in the county for the week of September 21, 2015, and beyond.

Thursday, September 17

San Diego’s Secret Wormhole to the Ivy League

Hanna Balcha plays on the women’s varsity squash team at Dartmouth College, one of the 19 colleges and universities that accepted her upon her graduation from The Preuss School UCSD.

Surfing Dogs Drop-In for Fundraising Event and Make a Splash

The Helen Woodward Animal Center held the 10th annual Surf Dog Surf-A-Thon at Dog Beach in Del Mar recently. The event was presented by Blue Buffalo Co. Ltd.

CYBER CHAMPS: Stephen Cobb Senior Security Researcher ESET North America

What you like about doing business in San Diego:

Tribune Publishing Co. Appears to Be Pretty Weak on Paper

MEDIA: Co. Has Positive Cash Flow, But Persistent Problems Are Taking a Toll

There’s a publicly traded publisher in downtown Los Angeles that owns a couple of newspapers and sports a market capitalization of $270 million.

ViaSat Satellite Internet Access to be Option on New Commercial Aircraft

Airlines and other buyers of big Boeing Co. commercial jets may soon be able to specify ViaSat satellite Internet access gear as a factory option.

Four Programs Aim to Accelerate Review Process for Drugs

PHARMA: FDA Categories Helpful to Companies and Patients

Speeding the availability of drugs that treat serious conditions is in the best interest of both patients and drug companies, especially when the drugs meet unmet needs in the medical field.

Business Confidence Continues Decline, Chamber Index Shows

The San Diego Regional Chamber of Commerce’s measure of business optimism fell again in August to another year-long low, with larger firms showing the steepest drops in confidence.

Mixed-Use, 608-Acre Project Makes It Over First Hurdle

PROPERTY: Project Heads to Supervisors After Commission’s OK

County supervisors are expected in mid-October to review the latest large rural residential project in North County, one that pits some local residents’ concerns about traffic and other neighborhood impacts against the region’s long-unmet needs for new and affordable housing.

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Do Your Due Diligence, and Select the Best for Bar Directors

The San Diego County Bar Association has announced its 2016 board of directors candidates. They are Stephanie Chow, Matthew Deen, Srinivas Hanumadass, Robert Knaier, James Koerber, Jan Maiden (South Bay), Anna Romanskaya, Gary Rudolph, and Johanna Schiavoni.

Qualcomm Inc. Takes Aim at The Consumer Drone Market

TECHNOLOGY: Software Operates Drone and Camera; Delivery Is Expected in the First Half of 2016

Qualcomm Inc. introduced a computer for consumer drones on Sept. 10.

Dating App’s Edge Is That It Involves Human Matchmakers

San Diego-based Spritzr is working to get noticed in the crowded ballroom that is online dating.

Adaptive Surfing Event Looks to Be Part of Wave of Change

SPORT: La Jolla To Be Location of Competition Each Year

The world’s governing body for competitive surfing is trying to turn La Jolla into a mecca for adaptive surfing, pledging to host an annual contest for surfers with disabilities and create a marquee event for the fledgling sport.

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Local REIT Buying Six Parking Facilities for $69.6 Million

San Diego-based MVP REIT Inc. has entered into multiple purchase agreements to acquire six parking facilities in four cities for a total of approximately $69.6 million, the company announced.

Debt Collection Co. Hit With $52M in Refunds, Penalties

FINANCE: Encore Says Rules Being Made Up Via Enforcement Route

Federal regulators this month ordered San Diego-based Encore Capital, the nation’s largest buyer of delinquent debt, to pay $52 million in refunds and penalties for allegedly using deceptive tactics to collect debts they should have known were unenforceable.

Ink Co. Plans to Make Its Mark With Many Blank Pieces of Paper

GREEN: Fading Ink Gives Paper New Life Without Recycling

Carl Yee’s invention is both blue and green.

Qualcomm Buys Boston Health Care Co.

In another sign of its interest in health care technology, Qualcomm Inc. said on Sept. 14 that it acquired a Boston-area company, Capsule Technologie.

Google, S.D. Exploring Fiber Optic Network

Google Inc. is working with city of San Diego officials to evaluate the city as a market for Google Fiber, the company’s high-speed Internet service, Mayor Kevin Faulconer said Sept. 10.

Jessie Knight to Retire as Sempra’s Executive VP

ENERGY: Utility Names SDG&E President/COO to Succeed in Role

Sempra Energy has announced that Jessie J. Knight Jr., executive vice president of external affairs for Sempra Energy and chairman of Southern California Gas Co. (SoCalGas) and San Diego Gas & Electric (SDG&E), plans to retire Nov. 1.

New USFL Has Game Plan, But Can It Execute?

Many football fans remember the late WFL (1974-75), USFL (1983-85) and XFL (2001). RIP, the San Diego Riptide, which played in the AF2 from 2002 to 2005, and the San Diego Shockwave of the NIFL (2007).

DTZ, Cushman Make Merger Look Easy

PROPERTY: Firms Find Few Cuts Needed Due To Lack of Overlap Locally

Despite speculation that the $2 billion merger of DTZ and Cushman & Wakefield could mean drastic personnel and other cuts in San Diego County, the local post-merger footprint of the commercial real estate brokerage companies doesn’t differ all that much from the pre-merger version.

Human Element Is Part of New ATMs

FINANCE: Video Chat Feature Adds to Services

Roughly two years after it debuted on the East Coast, the latest wave of ATM technology has made it to San Diego. It allows big bank customers to do a lot more without seeing an in-person teller.

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New Officers Named at Cleantech San Diego

The Board of Directors at Cleantech San Diego voted in a new Executive Committee to serve as officers of the organization’s Board of Directors. Executive Committee members represent a cross section of the San Diego region’s clean technology industry and include leaders from the private and public sectors.

Poway Medical Office Property Sells for $9.3 Million

An affiliate of Anaheim-based Milan Capital Management has purchased the Pomerado Professional Plaza medical office complex in Poway for $9.3 million, according to CoStar Group and public data.

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Life Sciences Group Names Senior VP of Strategy/Development

The California Life Sciences Association (CLSA) announced Thursday the appointment of Holly Smithson as senior vice president of business strategy and development based in CLSA’s San Diego office.

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Does Biotech Need More Cash or Cachet?

BIOTECH: Experts Differ on Path for Finding More Success

San Diego’s life science cluster needs more local cash to play in the big leagues, according to some biotech heavyweights. Others say that contention is half-baked.

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Knock Them Down, And Goods Will Come

PROPERTY: Port Sees Sheds Standing in the Way of Progress

For the Port of San Diego, two midcentury warehouses stand in the way of progress at the 10th Avenue Marine Terminal.

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THE NEXT ROUND

BREWING: Thriving S.D. Scene Adapts to Demands, Challenges

San Diego County’s already thriving craft beer industry has recently seen a steady flow of big corporate changeovers, as many of the region’s more than 100 brewers take on the challenges of maintaining growth in a maturing industry that is only getting more competitive.

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Qualcomm to Lay Off 1,314 Employees in San Diego

Qualcomm Inc. plans to lay off 1,314 members of its San Diego County staff, according to public documents released on Sept. 17.

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Wednesday, September 16

San Diego Firm Buys Las Vegas Condo Units for $18.1 Million

San Diego-based property investment firm Pathfinder Partners LLC has acquired 64 units in the Sky Las Vegas condominium tower on the Las Vegas Strip, for $18.1 million.

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Qualcomm Unveils Third Generation of Fast-Charging Technology

Qualcomm Inc. unveiled a third generation of fast-charging technology this week.

City Council Approves Mission Valley Mixed-use Apartment Project

The San Diego City Council has approved plans for a $60 million mixed-project that includes 200 apartments, on a site adjacent to the Union-Tribune building in Mission Valley.

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Air Force Awards GA-ASI $12.1 Million Contract

The U.S. Air Force awarded General Atomics Aeronautical Systems Inc. up to $12.1 million for electrical system work on the company’s Reaper unmanned aircraft.

UK-Based Abzena Acquires PacificGMP, Plans Expansion

Cambridge, UK-based Abzena has acquired San Diego’s PacificGMP for $8.4 million in a deal that gives the buyer a U.S. base of operations.

August Home Sales, Median Price Up From a Year Ago

The number of homes sold in San Diego County jumped 11.4 percent in August from the year before, to 3,764 houses, as home sales across Southern California continued their seven-month stretch of year-over-year growth, according to data from CoreLogic.

Illumina, Memorial Sloan Kettering Announce Research Collaboration

San Diego’s Ilumina Inc. announced a research collaboration with Memorial Sloan Kettering aimed at developing new strategies to diagnose and monitor cancer.

HCAP Partners Makes Undisclosed Investment in L.A.-Based Noribachi

HCAP Partners made an undisclosed investment in Los Angeles-based LED manufacturer Noribachi, whose revenue doubled to $22 million last year, the companies said Wednesday.

Tuesday, September 15

Navy Awards Soltek Pacific Construction $9.3 Million Contract

Soltek Pacific Construction Co. of Old Town received a $9.3 million task order to build a mobile communication detachment facility at Naval Base Coronado in Imperial Beach for U.S. Navy SEALs, the Navy announced on Sept. 10.

Air Force Deploys First GA-ASI Extended-Range Reaper

The U.S. Air Force put its first extended-range Reaper unmanned aircraft into service in August, the military and its contractor, General Atomics Aeronautical Systems Inc., announced on Sept. 15.

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Hewlett-Packard Announces Layoffs; S.D. Impact Unknown

Hewlett-Packard Co.’s previously announced plans to split up its consumer PC and IT outsourcing businesses will result in job cuts of 25,000 to 30,000, the company said Tuesday.

On Assignment Division Expands to San Diego

Creative Circle, a staffing agency specialized in advertising and marketing jobs, is opening an office in San Diego, the company announced Tuesday.

Local Construction Management Firms Announce Merger

San Diego-headquartered construction management consulting firm Xpera CM announced that it has merged with locally based C&S Professional Services. Financial and other terms of the deal were not disclosed.

Union-Tribune Property Gets New Local Owner

San Diego-based investment and development firm BBL Commercial Real Estate has purchased the 13-acre Mission Valley site housing the San Diego Union-Tribune, according to CoStar Group and public data. The price was not immediately disclosed but reported by the Union-Tribune at more than $50 million.

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New Cadillacs to Feature Maxwell Technologies System

Many of next year’s Cadillac sedans and coupes will include a Maxwell Technologies-powered start-stop system, the San Diego manufacturer said Tuesday, driving the company’s stock up 17 percent to close at $6.03.

British Airways Plans New First Class Seating for San Diego Flights

British Airways has announced new first-class service between San Diego and London, as the carrier introduces a larger, four-cabin Boeing 777-300 to its local route. First-class availability takes effect on March 27, 2016.

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Monday, September 14

Cole Named President of Cubic Transportation Unit

Cubic Corp. has named Matthew J. Cole president of its transportation business, effective Oct. 1.

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Air Force Awards General Atomics $51.5 Million Contract Modification

The U.S. Air Force awarded General Atomics Aeronautical Systems Inc. a $51.5 million modification to a basic ordering agreement with the company.

American Assets Trust President/CEO Resigns; Ernest Rady to Assume Roles

American Assets Trust, Inc. announced that John W. Chamberlain has resigned as the company's president and chief executive officer and as a member of its Board of Directors, effective immediately, to pursue other business and personal opportunities. Ernest Rady has been named as his replacement.

Qualcomm Strengthens Health Care Unit With Acquisition of Capsule Technologie

In another sign of its interest in health care technology, Qualcomm Inc. said on Sept. 14 that it acquired a Boston-area company, Capsule Technologie.

City, UCSD to Partner on White House Initiative

The City of San Diego and the University of California, San Diego said Monday they were founding members of a White House initiative to foster closer connections between cities and research universities attempting to solve civic problems.

Sempra’s Executive VP of External Affairs to Retire

Sempra Energy has announced that Jessie J. Knight, Jr., executive vice president of external affairs for Sempra Energy and chairman of Southern California Gas Co. (SoCalGas) and San Diego Gas & Electric (SDG&E), plans to retire Nov. 1. Steven D. Davis, currently president and chief operating officer of SDG&E, has been elected to succeed Knight as executive vice president of external affairs and corporate strategy for Sempra Energy, effective Sept. 26.

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Sunday, September 13

Stone Brewing Co. Seeks New CEO as Koch Switches to Executive Chairman Role

Stone Brewing Co. co-founder and CEO Greg Koch plans to transition into a new role of executive chairman, as the Escondido-based craft beer maker launches a selection process for its next chief executive to head daily operations.

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Kratos Deals Are Potentially Worth Up to $17 Million

Kratos Defense & Security Solutions Inc. received two deals collectively worth $5 million that could ultimately be worth up to $17 million. The San Diego contractor made the announcement Sept. 10.

Mayor Faulconer: Chargers Stadium Vote Still Possible Despite Deadline’s Passing

City and county officials remained hopeful that a future public vote could be held regarding a new stadium for the San Diego Chargers, after the passing of the Sept. 11 deadline for preparing a Jan. 12 special election.

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Eight More Tenants Announced for Liberty Public Market

Operators have announced eight more tenants for Liberty Public Market, a new open-air dining and gathering spot set to open in October at the mixed-use Liberty Station in Point Loma.

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Realty Income Corp. Announces Continuous Offering of Stock Shares

San Diego-based Realty Income Corp. has established an “at the market” continuous offering program of common stock, in which it will offer and sell up to 12 million shares “from time to time.”

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The Business Calendar for the Week of Sept. 14, 2015

Some of the business events planned in the county for the week of Sept. 14, 2015, and beyond.

RF Industries Reports Q3 Results

San Diego-based cable assembly manufacturer RF Industries Ltd. reported sales of $8.9 million for the third quarter ending July 31, a 61 percent increase from the like quarterlast year as the company continues to feel the effects of recent acquisitions.

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Housing Sales, Median Price Increase Over 12 Month Period

Sales of San Diego single-family homes rose 2 percent in August compared to the year before, according to the Greater San Diego Association of Realtors, with 2,017 sales at a median price of $540,000.

Friday, September 11

RF Industries Reports Third Quarter Results

San Diego-based cable assembly manufacturer RF Industries Ltd. reported sales of $8.9 million for the third quarter ending July 31, a 61 percent increase from the like quarter last year as the company continues to feel the effects of recent acquisitions.

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Stone Brewing Seeks New CEO as Koch Switches to Executive Chairman Role

Stone Brewing Co. co-founder and CEO Greg Koch plans to transition into a new role of executive chairman, as the Escondido-based craft beer maker launches a selection process for its next chief executive to head daily operations.

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Realty Income Announces Continuous Offering of Stock Shares

San Diego-based Realty Income Corp. has established an “at the market” continuous offering program of common stock, in which it will offer and sell up to 12 million shares “from time to time.”

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Faulconer: Chargers Stadium Vote Still Possible Despite Deadline’s Passing

City and county officials remained hopeful that a future public vote could be held regarding a new stadium for the San Diego Chargers, after the passing of the Sept. 11 deadline for preparing a Jan. 12 special election.

Housing Sales Increase 2% Over 12 Month Period

Sales of San Diego single-family homes rose 2 percent in August compared to the year before, according to the Greater San Diego Association of Realtors, with 2,017 sales at a median price of $540,000.

Business Calendar for Week of Sept. 14, 2015

Some of the business events planned in the county for the week of September 14, 2015, and beyond.

Eight More Tenants Added to Liberty Public Market Roster

Operators have announced eight more tenants for Liberty Public Market, a new open-air dining and gathering spot set to open in October at the mixed-use Liberty Station in Point Loma.

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Thursday, September 10

Google May Bring High-Speed Internet Service to S.D.

Google Inc. is working with city of San Diego officials to evaluate the city as a market for Google Fiber, the company’s high-speed Internet service, Mayor Kevin Faulconer said Sept. 10.

Qualcomm Unveils Computer for Consumer Drones

Qualcomm Inc. has introduced a computer for consumer drones.

MillerCoors Acquiring San Diego’s Saint Archer Brewing Co.

Brewing giant MillerCoors LLC has agreed to acquire a majority interest in San Diego craft beer-maker Saint Archer Brewing Co., for an undisclosed price.

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Executive Q&A: Magda Marquet of Althea Technologies and Alma Life Sciences

Magda Marquet sits across from me, eyes twinkling above a porcelain mug.

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Youngevity International to Open Singapore Office

Youngevity International Inc., a Chula Vista-based global direct marketer of nutritional and lifestyle products and also a producer of gourmet coffees for the commercial, retail and direct sales channels, announced the planned opening of its office in the Republic of Singapore.

Sempra Energy Declares Dividend

The board of directors of Sempra Energy declared a quarterly dividend of $0.70 per share of common stock. The current dividend is payable Oct. 15 to shareholders of record on Sept. 25.

MediciNova Treatment Receives Fast-Track Designation From FDA

La Jolla’s MediciNova has received fast-track designation from the U.S. Food and Drug Administration for its proposed treatment of idiopathic pulmonary fibrosis, a deadly disease that scars and thickens the lung tissue, making it harder to breathe.

Women’s Networking Group Ellevate Launching San Diego Chapter

Ellevate, an international women's networking group, is launching a chapter in San Diego on Sept. 24.

Vista Can Be Your Window On a World Of SoCal Beauty

Once known as the Avocado Capital of the World, the city of Vista is just seven miles from the beach and stretches out among gentle rolling hills and enjoys cooling ocean breezes.

Athletes Helping Athletes Is Going Strong in Its Efforts to Help

Athletes Helping Athletes, a San Diego nonprofit, works with families across the country to donate custom-built handcycles, giving disabled children the chance to enjoy being a kid.

CYBER CHAMPS: Blake Hern, Director – Information Security & Compliance, Encore Capital Group Inc.

What do you like about doing business in San Diego?

Retail Center’s Customer Service Went Several Extra Miles

Mobile app- enabled ride-sharing services such as Lyft and Uber are becoming ubiquitous at places including the airport and local tourist venues (see the Business Journal’s Sept. 7 story), and they could eventually become popular among shoppers tired of searching for parking at their favorite malls during peak hours.

For Co., More Data Could Mean More Loans to ‘Underbanked’

FINANCE: Analytics, $50M Credit Facility Part of Expansion Plans

When Krishna Gopinathan began his career as a data scientist, he helped create the fraud detection software now used by FICO to protect more than 2 billion credit cards worldwide.

BIO Picks S.D. To Host 2016 World Congress

The Biotechnology Industry Organization (BIO) announced that its 2016 World Congress on Industrial Biotechnology will be held April 17-20, 2016, at the San Diego Convention Center.

Hotel Del Owner Being Acquired For $6 Billion

Strategic Hotels & Resorts Inc., which owns 17 high-end U.S. hospitality properties including Hotel del Coronado, has agreed to be acquired by affiliates of New York-based Blackstone Group, in a deal valued at approximately $6 billion.

Company Has B2B Target for Sensing Technology for Drones

TECH: System Aims To Add More Control To Newest Air Traffic

Little drones fly fast, and their reputations go ahead of them.

David Wescoe Named CEO At SDCERA

San Diego County’s $10.6 billion pension fund has hired the former head of the city’s pension fund, David Wescoe, as its next permanent chief executive, following the resignation of longtime CEO Brian White in March.

Grocer Haggen Files for Chapter 11 Bankruptcy

RETAIL: Newcomer Also Suing Seller Albertsons For $1B

Northwest grocery chain Haggen Food & Pharmacy has filed for Chapter 11 bankruptcy, in a bid to reorganize its finances as it struggles to find its footing in new markets including Southern California.

BizAir Shuttle Halts Flights at Carlsbad Airport

TRAVEL: LA Flights Dragged Down Its Las Vegas Route

BizAir Shuttle has ceased flight operations from Carlsbad’s McClellan-Palomar Airport to Los Angeles and Las Vegas, citing a lack of passenger demand since the services began in mid-June.

Yoga, Meals And Mutts Are Perks That Work

Zeeto is a thriving downtown technology company that optimizes Web-based registration for lead generation and ad auctions.

Pharma Firm Skips Partnership Route

BIOTECH: It Plans to Take Drug to Market on Its Own

For local pharmaceutical companies, drug development is often a relay race. Local firms hand off the baton to a late-stage partner with the muscle to take it all the way to market.

Knowledge is Power Even on Putting Green

SPORT: Co.’s App Guides Golfers on Final Shots

Golfers can take advantage of location-tracking software that suggests the best club to use and devices that clip onto their belts that automatically record what kind of strokes they’re making and how far each shot goes.

Should It Stay or Should It Grow?

TOURISM: Vote Likely On Convention Center Expansion

A recent consultant’s study confirmed city and tourism officials’ assessment that the San Diego Convention Center likely needs a contiguous expansion to retain and attract big events — though a noncontiguous campus option has not been ruled out.

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Navy Federal to Add 4 Branches in S.D.

FINANCE: One-on-One Service Key Part of Credit Union

Navy Federal Credit Union, the nationwide credit union serving military families, is increasing its footprint in San Diego County with four more branches over the next year as local membership has grown by nearly 25 percent since 2013.

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URBAN ARRIVAL

PROPERTY: With Factors In Its Favor, Millenia Aims For Big Change in Chula Vista

After being stalled for several years by setbacks in the real estate economy, residential and commercial projects are set to sprout at the long-awaited, 210-acre Millenia mixed-use development in Chula Vista.

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Poway Industrial Building Sold for $3.32 Million

Atomic Investments Inc. and Muirlands Investments LLC of National City have acquired a Poway industrial building for approximately $3.32 million, according to brokerage firm Pacific Coast Commercial.

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The Baupost Group Invests in Orexigen Therapeutics

Orexigen Therapeutics Inc. announced Thursday that funds managed by The Baupost Group are in the process of purchasing 25 million shares of its common stock that will raise $60 million for the biotech firm.

Renovation Planned after $5 Million Sorrento Mesa Office Purchase

Harbor Associates LLC of Long Beach has purchased a Sorrento Mesa office building for $5 million in an all-cash deal, with plans for an extensive renovation, the investment firm reported.

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On-Ramp Wireless Rebrands as Ingenu

Rancho Bernardo-based On-Ramp Wireless announced plans to build a national network for the Internet of Things and said it was relaunching the business under a new name, Ingenu.

Wednesday, September 9

UC San Diego Ranked 9th in Nation by U.S. News & World Report

The University of California, San Diego was named the ninth-best public university in the country Wednesday by U.S. News & World Report, tied with UC Irvine in the annual rankings.

Encore Capital Agrees to Pay $52 Million to Settle Federal Complaint

Federal regulators on Wednesday accused the country’s two largest debt buyers of using deceptive tactics to collect debts they should have known were unenforceable, ordering San Diego-based Encore Capital to pay $52 million in refunds and penalties.

RF Industries Announces Dividend, Executive Compensation

RF Industries Ltd. said on Sept. 8 that it will distribute a 7 cent per share cash dividend on Oct. 15 to shareholders of record Sept. 30.

Wilson Cos. Appoints Execs, Moves into Housing Development

San Diego-based real estate development and services firm Douglas Wilson Cos. has named Nicholas P. Wilson as its chief operating officer and Michele Vives as senior managing director, as it prepares projects in new areas including senior housing.

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GreatCall Announces Appointments of CFO and VP

GreatCall, a company offering wireless products to aging consumers, announced the appointments of Brian Berning as chief financial officer and Jeff Polizzotto as vice president commercial sales.

LRAD Corp. Receives $1.2 Million Order From Asian Client

LRAD Corp. said on Sept. 9 that it received a $1.2 million order for sound systems and accessories from an unnamed customer in Asia.

Skylight Healthcare Acquired by GetWellNetwork Inc.

San Diego’s Skylight Healthcare Systems, a tech company that provides an interactive patient care system for hospitals, has been acquired by Bethesda, Md.-based GetWellNetwork Inc.

Grocer Haggen Files for Chapter 11 Bankruptcy

Northwest grocery chain Haggen Food & Pharmacy has filed for Chapter 11 bankruptcy, in a bid to reorganize its finances as it struggles to find its footing in new markets including Southern California.

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Tuesday, September 8

Port of San Diego's Cruise Season to Get Underway

Sept. 9 marks the start of the 2015-2016 cruise season for the Port of San Diego.

John D. Harris Joins Cytori Therapeutics as VP/GM of Cell Therapy

Cytori Therapeutics, a cell therapy company in San Diego, named John D. Harris as vice president and general manager of cell therapy, a newly created role to be based in Tokyo.

Kratos Receives Task Order Worth $32 Million

Kratos Defense & Security Solutions Inc. said on Sept. 8 that its Digital Fusion Solutions business received a task order under a U.S. Army contract.

Milikowsky Rebrands Law Firm as Tax Specialists

The Law Offices of John D. Milikowsky has been rebranded as Milikowsky Tax Law, founder John Milikowsky announced Sept. 8.

Cubic Corp. Appoints Amy Kruse VP/CTO of Defense Unit

Cubic Corp. named Amy Kruse as vice president and chief technical officer for its Cubic Global Defense unit, the business announced on Sept. 8.

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Survey Finds S.D. Execs Optimistic About Hiring

San Diego executives are slightly more optimistic about creating new positions over the next six months than over the past half-year, according to survey results released Tuesday by staffing firm Robert Half.

San Diego Office Property Sold for $6.3 Million

J&J Properties - La Jolla LLC, a division of J&J Real Properties LLC of San Diego, has purchased the Vista La Jolla Corporate Center office property in the Rose Canyon submarket for $6.3 million, according to real estate services firm HFF.

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BIO to Hold 2016 World Congress at S.D. Convention Center

The Biotechnology Industry Organization (BIO) announced that its 2016 World Congress on Industrial Biotechnology will be held April 17-20, 2016 at the San Diego Convention Center.

Hotel Del Coronado Owner Being Acquired by Blackstone for $6 Billion

Strategic Hotels & Resorts Inc., which owns 17 high-end U.S. hospitality properties including Hotel Del Coronado, has agreed to be acquired by affiliates of New York-based Blackstone Group, in a deal valued at approximately $6 billion.

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Monday, September 7

Local Investor’s Commercial Property Deals Total $52 Million

San Diego-based investor Dan Floit has sold five local multifamily buildings and acquired several other commercial properties, in transactions totaling $52 million, according to brokerage company CBRE Group Inc.

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The Sycuan Band of the Kumeyaay Nation Signs New Gaming Compact With State

The Sycuan Band of the Kumeyaay Nation and Gov. Jerry Brown have inked a new tribal-state gaming compact, which addresses gaming on the Sycuan reservation through 2040.

Dallas Company Purchases Miramar Office Park for $19.15 Million

Lincoln Property Co. has purchased the five-building Activity Business Center office park in Miramar for $19.15 million, the Dallas-based company announced.

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BizAir Halts Its Shuttle Service at Carlsbad Airport

BizAir Shuttle has ceased flight operations from Carlsbad’s McClellan-Palomar Airport to Los Angeles and Las Vegas, citing a lack of passenger demand since the services began in mid-June.

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The Business Calendar for the Week of September 7, 2015

Some of the business events planned in the county for the week of September 7, 2015, and beyond.

Federal Appeals Court Voids a Judgment Against Millennium Health

A federal appeals court voided a district court's judgment against Millennium Health Sept. 3, stemming from an earlier claim that the San Diego company violated laws against kickbacks by giving physicians free urine testing cups.

Dutch Company Wins Bid for Work on Miramar Fuel Pipeline

A Dutch corporation will take the lead in a $25 million project to improve 5 miles of the Miramar fuel pipeline between Marine Corps Base Miramar and Naval Base Point Loma.

Friday, September 4

Investor’s Commercial Property Deals Total $52 Million

San Diego-based investor Dan Floit has sold five local multifamily buildings and acquired several other commercial properties, in transactions totaling $52 million, according to brokerage company CBRE Group Inc.

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Dallas Company Buys Miramar Office Park for $19.15 Million

Lincoln Property Co. has purchased the five-building Activity Business Center office park in Miramar for $19.15 million, the Dallas-based company announced.

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BizAir Shuttle Halts Flights at Carlsbad Airport

BizAir Shuttle has ceased flight operations from Carlsbad’s McClellan-Palomar Airport to Los Angeles and Las Vegas, citing a lack of passenger demand since the services began in mid-June.

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Foundation Grant to Girls Give Back Encourages Youth to Learn and Lead

The Hadassah Foundation, which invests in social change for girls and women in Israel and the U.S., has awarded a $35,200 grant to Girls Give Back, a Jewish Family Service of San Diego program, to help cover operating expenses for the next year.

A GREAT ESCAPE

Less than an hour away from the day-to-day grind of city living is Los Robles Ranch in Santa Ysabel.

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CYBER CHAMPS: Paul Martini Co-Founder/CEO, iboss Cybersecurity College/Degree: BS Computer Science, UC San Diego

What do you like about doing business in San Diego?

Seeking a Different Slice of the Commercial Lending Pie

FINANCE: Credit Unions Say Easing Loan Regulations Will Help Small Businesses

After the credit union industry’s regulator in June proposed rolling back some of its rules for business lending, bankers wrote hundreds of letters warning that loosening the restrictions could imperil the economy.

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Business Calendar for Week of September 7, 2015

Some of the business events scheduled in the county for the week of September 7, 2015, and beyond.

SBA’S TALE OF 2 PROGRAMS

FINANCE: While 7A Loans Flourish, 504 Loans Struggle With Bureaucracy

The SBA reached its $18.75 billion guarantee cap in July, prompted a weeklong shutdown of the program as Congress scrambled to pass a $5 billion extension with two months left in the government’s fiscal year.

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Thursday, September 3

Restoring Court Resources Must Be on All Our Dockets

I have heard attorneys say they hoped the local judiciary would be forced by the state budget cuts to grant more warranted summary judgments, with leave to amend, rather than “indicate” a likely outcome.

SDCERA Names Wescoe Chief Executive

San Diego County’s $10.6 billion pension fund said Sept. 3 it had hired the former head of the city’s pension fund, David Wescoe, as its next permanent chief executive, following the resignation of longtime CEO Brian White in March.

What Are Big, Scary and Could Cost Up to $15.7 Billion for the County?

San Diego could suffer nearly $15.7 billion in economic losses over the next decade if a host of man-made and natural catastrophes strike, including a stock market crash, according to a report Sept. 3 by insurance giant Lloyd’s of London.

Tri-City Announces Appointment of Nygaard as Finance Committee Chairwoman

Tri-City Medical Center announced Sept. 3 that Julie Nygaard has been appointed finance committee chair by the Association of California Healthcare Districts.

La Mesa Apartment Property Sold for $5.8 Million

an Diego-based Midland Properties LLC has purchased the 33-unit Racquet Club Apartments in La Mesa for $5.8 million, according to brokerage firm ACRE Investment Real Estate Services.

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Green Flash Brewing Names Ross as COO

San Diego-headquartered craft beer maker Green Flash Brewing Co. has named Chris Ross as its chief operating officer, as it continues to boost production and distribution. The appointment took effect on Sept. 1.

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North Park Condominiums Sell for $5.61 Million

Belmont Growth LLC of San Diego has acquired the 22-unit Suncrest Condos in North Park for $5.61 million, according to brokerage company ACRE Investment Real Estate Services.

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Neurocrine Biosciences Makes Board Appointment

Neurocrine Biosciences Inc., a biopharma company in San Diego, announced that it has appointed Dr. Alfred W. Sandrock, Jr. to its board of directors.

Ride-Sharing Cos. Pursue Ways to Pick Up Tourist Business

TRANSPORT: Services Are Working With Venues and Hotels

Nearly 60,000 passengers have taken trips using mobile app-enabled ride-sharing services — Uber, Lyft and Opoli — to and from San Diego International Airport since operators started a pilot program permitting those transportation providers in early July.

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Co. Provides Crews for Drones Flying Intelligence Missions

General Atomics Aeronautical Systems Inc. is getting a new source of revenue: It plans to provide contract pilots for unmanned U.S. government-owned Predator aircraft.

Action Sports Media Outfit Relocating Staff to Carlsbad

MEDIA: Magazines Moving South to Existing Building

The bulk of Ten: Action/Outdoor Group’s staff is leaving Orange County next month, some of them headed south to San Diego County.

Deal Gives Cart Mart New Inroad Into a Lucrative Market

VEHICLE: Dealer And Distributor Also Can Customize Carts

When Ben Bellman started manufacturing electric vehicles in 1959 for the now-defunct Marketeer brand, the phrase “golf cart” hadn’t been popularized.

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Internet of Medical Things to Change Care Model, Compensation

Qualcomm Life Inc., the health-tech subsidiary of Qualcomm Inc., drew hundreds of leaders in digital health to its annual conference in San Diego last week to address the bugs and boons of connected care.

School Sites Appear to Hurt Home Values

Homes further away from schools are worth more than those nearby, according to a recent study by the University of San Diego.

Local Economic Indicator Ends 13-Month Trend

ECONOMY: Labor Market Key Concern As Index Slips in July

An index measuring the health of the San Diego economy took a downward turn in July, after 13 consecutive months of increases.

Convention Clients Prefer Contiguous Space Plan

TOURISM: Officials To Lay Groundwork For Expanded Center

San Diego Convention Center clients prefer contiguous expansion space, though the city would also benefit from new space that is noncontiguous, according to a consultant’s study.

SommCon Could Be Excellent Pairing With Food Festival

How much of a foodie town has San Diego become? So much so that San Diego Bay Wine & Food Festival co-founders Michelle Metter and Ken Loyst are adding a “business of wine” conference for industry professionals.

‘Ballot Box Planning’ A Growing Concern

DEVELOPMENT: Carlsbad Latest to Join Initiative Fray

Carlsbad could soon be embroiled in San Diego County’s latest scuffle over “ballot box planning,” as opponents of a lagoon-adjacent retail center seek to overturn the Carlsbad City Council’s recent approval of the project.

Investment Fails to Fuel Biomed Boom

BIOTECH: Other Factors Weigh Down Sector

More and more public money is being spent on biomedical research to improve human health, but the work appears to be yielding fewer gains — in new therapies and life expectancy, according to a study by two researchers at Johns Hopkins Bloomberg School of Public Health.

Navy Broadway Plan Foresees a 2016 Start

PROPERTY: Agency’s OK Leaves Ball in Federal Court

Developers overhauled the North Embarcadero promenade, converted a former police station into a retail and dining center, and replaced the former Lane Field ballpark with what by next year will be new hotels.

Genomic Variation

BIOTECH: From Tools to Personal Testing, Cos. Look To Profit From Expertise

Nearly two decades after a team of international scientists unlocked the goldmine of data in the human genome – to the delight of science-minded entrepreneurs — mountains of genetic information continue to be pumped into San Diego’s life science community with increasingly high-tech instruments.

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Wednesday, September 2

Kratos Subsidiary Receives $3.8 Million Raytheon Contract

Kratos Defense & Security Solutions Inc. said on Sept. 2 that its Micro Systems Inc. subsidiary received a three-year, $3.8 million contract award from Raytheon Missile Systems to provide radar tracking transponders for the AMRAAM missile.

Cubic Corp. Updates Contract Status For Defense, Transportation Units

Cubic Corp. reported it received a contract for its transportation unit and made a delivery on a contract for its defense unit.

San Diego Region Has Second-Fastest Growing Economy in State

The greater San Diego region is the second-fastest growing economy in the state, the California Employment Development Department said Wednesday, with the area expected to add 206,000 jobs by 2022.

Cushman & Wakefield, DTZ Announce Completion of Merger

Commercial real estate service companies Cushman & Wakefield and DTZ have completed their previously announced $2 billion merger, with the combined company now known as Cushman & Wakefield and headquartered in New York City.

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Sequenom Partners With Perinatal Quality Foundation

San Diego’s Sequenom Inc. announced that it will partner with the Perinatal Quality Foundation to spread education about prenatal testing.

Grocer Haggen Sues Albertsons for $1 Billion

Northwest-based grocery chain Haggen Food & Pharmacy is suing Albertsons and its holding company for more than $1 billion, based on claims stemming from Haggen’s purchase and conversion of 146 Albertsons and Safeway stores in late 2014.

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Scripps Researchers Complete Enrollment for Wireless Health Sensor

Researchers with the Scripps Translational Science Institute have completed enrollment in the first clinical trial of the Scanadu Scout, a wireless health sensor that measures four vital signs in a few seconds by touching the device to the forehead.

Tuesday, September 1

Kratos Gets Five-Year, $50 Million Contract

Kratos Defense & Security Solutions Inc. said on Sept. 1 that its satellite electronics and cybersecurity business recently received a $50 million, five-year contract from an unnamed international customer.

Lynx Technology Acquires PacketVideo Operations

San Diego-based Lynx Technology acquired the North American and European operations of PacketVideo five months ago for undisclosed terms. A publicist for Lynx said that the deal, which closed March 27, called for delaying an announcement until September.

Otonomy Board Gets New Chairman and New Director

Otonomy, Inc., a clinical-stage biopharmaceutical company focused on the development and commercialization of therapeutics for diseases and disorders of the ear, announced the appointment of Ted Schroeder to its board of directors and the resignation of its chairman, Peter Bisgaard.

San Diego Firm Buys Bay Area Apartments for $26.4 Million

The ConAm Group of San Diego has purchased the 137-unit TownCentre Commons apartment community in the Bay Area city of Brentwood for $26.4 million, the company announced.

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Development Ramping Up at Millenia in Chula Vista

Development of retail and other commercial elements is expected to accelerate next year at the 210-acre Millenia mixed-use community in Chula Vista, where apartments are currently under construction.

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Proximity to Schools Determines Home Prices, Study Finds

San Diego homebuyers may want to rethink their desire to live close to a school, according to research released Tuesday by the University of San Diego that found homes further away from schools are worth more than those nearby.

Home Values Gain 5.2 Percent in July, CoreLogic Reports

Home values in San Diego and Carlsbad continued their rise in July, gaining 5.2 percent over the past year, as home prices appreciated 6.9 percent nationwide, according to a report from CoreLogic.

Value of County’s Future Construction Down 43 Percent in 2015

The value of San Diego County’s future construction projects dropped 43 percent from a year ago in the first seven months of the year, to just over $1.81 billion, according to the latest data from Dodge Data & Analytics.

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